Late last month we learned the SHOCKING news that The Young and the Restless veteran actor Eric Braeden (who plays the venerable Victor Newman on the long-running, #1 daytime drama on US TV) was being written out of the show due to a contract spat with the studio. Earlier this month, Braeden talked about how his mistreatment by the studio made him feel and sounded like there was no hope for his return to the show … but that was then, this is now. A new report out this weekend claims that Braeden and studio heads have agreed on a deal to keep him on the show! It looks like Victor Newman will remain on Y&R after all:

There’s peace in Genoa City: Eric Braeden, the longtime star of CBS’ top-rated “The Young and the Restless,” has agreed to return to the show. Braeden opted to leave a few weeks ago after producer Sony Pictures Television asked all cast and crew to take major pay cuts. In the actor’s case, that mean a reduction from around $1.5 million per year to around $1 million. But now a person familiar with the matter says Braeden has accepted Sony’s pay cut and will return to the series. The timing of his return is still being worked out. Braeden’s last episode was to have been Nov. 2. News of his return comes days after TheWrap reported that Sony had been considering hiring a well-known actor to fill the gap left by Braeden’s departure.
UPDATE 7:40 PM CDT: A spokesman for Braeden confirmed to TheWrap that the actor has agreed to return to the show.
Hmmm … I’m actually surprised that Eric Braeden decided to take the pay cut in order to stay on the show. While I believe it’s the smart thing to do (especially in this economy), Braeden strikes me as a stubborn and proud man (much like his character on Y&R) and my gut told me he wouldn’t budge. Work is work and a pay check is a pay check … in the end the studio is happy they got their way, Braeden should be happy that he still has a job and fans of the show will deffo be happy that Victor Newman will remain on the show. It sounds like a win-win-win situation all the way around.
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Yay! I’m glad that he finally came to his senses! Times are tough for everyone, and sometimes we have to compromise. I can’t image YR without Victor Newman.
I knew this would happen… The mustache lives on!
Dagnabit. I have watched Y&R off and on since I was kid and I’ve never thought EB was a very good actor. I wish they’d kill him off and move on already.
I am so glad to hear that! The show wouldn’t be the same without him. It’s campy fun and he’s the campiest!!
I heard also that he had originally offered to take a pay cut and it was more the mistreatment from the studio that had him wanting to leave.
I knew he would come back – let’s face it there is no other role for him.
Yay!!